DawonSys Reports 102.1 Billion KRW in Q1 Sales... Returns to Profitability
Daewon Sys announced on the 16th that it recorded consolidated financial results for the first quarter of this year with sales of 102.1 billion KRW, operating profit of 2.7 billion KRW, and net profit of approximately 700 million KRW, turning to a profit.
Regarding the first quarter performance, a Daewon Sys official stated, “Based on a stable order backlog and the efforts of all employees to increase productivity, sales and profit increased, resulting in a turnaround to profitability in the first quarter.”
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He added, “Our subsidiary Daewon Medax is smoothly progressing with the Phase 1/2a clinical trial of Boron Neutron Capture Therapy (BNCT) for glioblastoma patients, the first in Korea, as well as preparations for a KOSDAQ IPO. The application for the Phase 1 clinical trial for locally recurrent head and neck cancer in Korea has also been completed. Furthermore, entry into high-growth, high value-added markets such as semiconductor and OLED equipment is anticipated. Therefore, this year, we expect a full-scale leap in new businesses and stable development in the railway business.”
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